Document on Bookkeeping

Procedures in Wave Accounting Application

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Contents 1. Understanding basic functions and features in Wave .............................................................................. 3

1.1 Login to Wave ..................................................................................................................................... 3

2 Wave Dashboard ....................................................................................................................................... 3

3.Wave Transactions ..................................................................................................................................... 5

4. Creating Sales Invoice ............................................................................................................................... 5

5. Creating Bill ............................................................................................................................................... 7

6. Receipt ...................................................................................................................................................... 8

7. Accounting ................................................................................................................................................ 9

8. Reports .................................................................................................................................................... 11

9. Payroll ..................................................................................................................................................... 12

10. Accounting setting: ............................................................................................................................... 13

10.1 Financial Settings ............................................................................................................................ 14

10.2 Invoice Setting ................................................................................................................................. 15

10.3 Product ............................................................................................................................................ 16

10.4 Customers ....................................................................................................................................... 16

10.5 Vendors ........................................................................................................................................... 16

10.6 Sales tax .......................................................................................................................................... 17

10.7 Guest Collaborators ........................................................................................................................ 17

10.8 Export .............................................................................................................................................. 18

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Purpose of Document: The document aims at explaining the user on how to maintain books of

accounts in Wave.

1. Understanding basic functions and features in Wave Wave runs on a cloud platform where the data remains on server of Wave and you can login

to the accounting platform just like you login to your email ID on Gmail or Yahoo.

Having your data on Cloud gives you an ease of access and you can login to your accounts

from anywhere. You just need a reliable internet connection.

1.1 Login to Wave For login into Wave you need to Go to https://my.waveapps.com/login/ and just login with

your Login details

You can use any of your favorite internet browsers to login to Wave.

2. Wave Dashboard Once you login to Wave you shall be on the Home page of Wave called “Wave Dashboard”

It is your key to business reports you require to see at a glance. You can adjust the things

you wish to see on your dashboard.

You can see a Quick view of bank account and credit cards ,income and expense graphs

invoice details and Net income of Business.

It can be customized on the go as per your reporting requirements.

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You can add Bank accounts and also Upload Bank Statements Of your Current Banks

You can See the Chart Of income and expense done in your Business

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You can see the invoice payable to you and bills you owe

You can see net income on your Dashboard

3.Wave Transactions Here You can see transaction and you can also add transactions of income and expenses

You can also get connected with your bank and also upload Bank statement

4. Creating Sales Invoice

Crete a new invoice: For creating an invoice, you need to input following information into Wave:

o Name of Customer

o Date of Invoice

o Due date of payment

o Invoice Number

o Reference

o Item Sold

o Description which you wish to mention in invoice

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o Qty

o Price

o Discount

o Account where effect needs to be given

o Tax rate

Here is how the input screen looks like

After Fill all the information sales invoice is ready. You can send the invoice directly to the party.

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Here is how the invoice look like.

The party can directly pay through invoice by fill credit card and payment details.

5. Creating Bill Creating a bill is just like a creating sales invoice you need to input following information.

o Name of vendor

o Date of Invoice

o Due date of payment

o Invoice Number

o Reference

o Item purchase

o Description which you wish to mention in invoice

o Qty

o Price

o Discount

o Account where effect needs to be given

o Tax rate

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6. Receipt This is very useful function.

By this function one can claim his expense by uploading receipt.

By uploading wave it automatic detects all the expense of receipt so here no need to enter the

details which is in the receipt.

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7. Accounting In this function you can see the overall position of your organization .

It shows the balance sheet of organization

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You can edit the names and also remove expenses which are unnecessary for your organization.

It also shows the equity side.

You can also add journal transaction

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8. Reports This function is one of the best function by using this function one can export various reports

like

o Balance sheet

o Accounting transaction

o General ledger

o Income statement

o Sales tax report

o Trial Balance

o Income by customer

o Expense by vendor

o Aged receivable

o Aged payables

o Gain or loss by foreign currency transaction

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This function is a very time saving function if u needs any selected thing for analysis you can get

all the information in couple of minutes.

9. Payroll This function is connected with the manpower of organization

Here you can record data of your employee their details like

o Salary

o Leave balance

In wave this function is paid function

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There are three schemes

Base Fee $5

First 10 employees $4 per employee

+11 employees $1 Per employee

10. Accounting setting: There are various types of settings are available for your requirement.

Financial settings

Invoice settings

Product setting

Customer

Vendors

Sales tax

Guest Collaborates

Export

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10.1 Financial Settings In this function there is settings like current financial year and currency.

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10.2 Invoice Setting Here there is a function to customize your invoice . you can customize various things like.

Add company logo

Add Service title

Add invoice title

Payment term

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10.3 Product Here you can add various products or servicing which you are providing to your client or customer

10.4 Customers Here you can add your customers details and also edit current customers details.

10.5 Vendors Here you can add and also edit information about your current vendors.

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10.6 Sales tax Here you can add details about sales tax which is applicable to you.

10.7 Guest Collaborators This is the most useful function if there is more than one user are there ,you can invite them persons like

professional accountants or you can also invite your employees.

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Here there is another option to give rites to guest you can give him read only option or you can also give

Read and edit rites.

10.8 Export Here you can export all the information and data of your organization in required format. Here there is

an advantage if u wants to have a backup of your data.

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